ECOWAS: Resistor Market 2024

Resistor Market Size in ECOWAS

The ECOWAS resistor market rose significantly to $X in 2022, picking up by X% against the previous year. Overall, consumption saw prominent growth. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Resistor Production in ECOWAS

In value terms, resistor production expanded remarkably to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a resilient increase. The pace of growth appeared the most rapid in 2017 when the production volume increased by X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Resistor Exports

Exports in ECOWAS

In 2022, overseas shipments of electrical resistors (except heating resistors) increased by X% to X units, rising for the third year in a row after two years of decline. Overall, exports posted moderate growth. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, resistor exports soared to $X in 2022. Over the period under review, exports, however, saw a noticeable reduction. The most prominent rate of growth was recorded in 2017 when exports increased by X%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, Niger (X units) represented the main exporter of electrical resistors (except heating resistors), committing X% of total exports. Guinea (X units) ranks second in terms of the total exports with a X% share, followed by Sierra Leone (X%). Mali (X units), Gambia (X units) and Ghana (X units) followed a long way behind the leaders.

Niger was also the fastest-growing in terms of the electrical resistors (except heating resistors) exports, with a CAGR of X% from 2012 to 2022. At the same time, Guinea (X%), Mali (X%) and Ghana (X%) displayed positive paces of growth. By contrast, Sierra Leone (X%) and Gambia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Niger and Guinea increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sierra Leone ($X) remains the largest resistor supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Niger ($X), with a X% share of total exports. It was followed by Guinea, with a X% share.

In Sierra Leone, resistor exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Niger (X% per year) and Guinea (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per thousand units in 2022, with an increase of X% against the previous year. Overall, the export price, however, recorded a abrupt contraction. The growth pace was the most rapid in 2019 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per thousand units in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sierra Leone ($X per thousand units), while Niger ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sierra Leone (X%), while the other leaders experienced a decline in the export price figures.

Resistor Imports

Imports in ECOWAS

In 2022, supplies from abroad of electrical resistors (except heating resistors) decreased by X% to X units, falling for the second consecutive year after four years of growth. Overall, imports showed a pronounced descent. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, imports reached the peak of X units. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, resistor imports rose significantly to $X in 2022. In general, imports showed a slight downturn. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Nigeria dominates imports structure, accounting for X units, which was near X% of total imports in 2022. Senegal (X units) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Ghana (X%). Guinea (X units), Cote d'Ivoire (X units), Burkina Faso (X units) and Sierra Leone (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to resistor imports into Nigeria stood at X%. At the same time, Guinea (X%), Sierra Leone (X%), Senegal (X%), Cote d'Ivoire (X%) and Burkina Faso (X%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Ghana (X%) illustrated a downward trend over the same period. While the share of Senegal (X p.p.), Guinea (X p.p.), Cote d'Ivoire (X p.p.), Sierra Leone (X p.p.) and Ghana (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Nigeria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported electrical resistors (except heating resistors) in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Guinea ($X), with a X% share of total imports. It was followed by Senegal, with a X% share.

In Nigeria, resistor imports plunged by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Guinea (X% per year) and Senegal (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per thousand units, picking up by X% against the previous year. Over the period under review, the import price continues to indicate a notable expansion. The pace of growth appeared the most rapid in 2021 an increase of X%. The level of import peaked at $X per thousand units in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Guinea ($X per thousand units), while Nigeria ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform